Civic Intelligence

Veritas Baptist College Inc

EIN 27-2918042 • 501(c)3 • Lawrenceburg, IN

Profile

Veritas baptist college exists to equip men and women for dynamic christian service and leadership in bible-believing churches by providing higher education that emphasizes academic excellence, spiritual development, and preparation for ministry, both lay and professional.

208 Walnut Street Suite 115Lawrenceburg, IN 47025

www.vbc.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

73rd percentile

0.29x

Higher debt load relative to assets than 73% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

58th percentile

0.13x

Higher debt load relative to revenue than 58% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

48th percentile

3.3%

Higher net margin than 48% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2025

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2025

Assets

Up

$768,797

Up $108,737 (+16%) from 2024

Liabilities

Up

$226,172

Up $50,642 (+29%) from 2024

Net Assets

Up

$542,625

Up $58,095 (+12%) from 2024

Revenue

Up

$1,773,652

Up $391,368 (+28%) from 2024

Expenses

Up

$1,715,557

Up $397,863 (+30%) from 2024

Net Income

Down

$58,095

Down $6,495 (-10%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0Assets 2013: $133,170Liabilities 2013: $25,978Net Assets 2013: $107,1922013Assets 2014: $141,949Liabilities 2014: $23,038Net Assets 2014: $118,9112014Assets 2015: $159,426Liabilities 2015: $12,005Net Assets 2015: $147,4212015Assets 2016: $164,973Liabilities 2016: $9,042Net Assets 2016: $155,9312016Assets 2017: $222,179Liabilities 2017: $55,013Net Assets 2017: $167,1662017Assets 2018: $394,126Liabilities 2018: $65,351Net Assets 2018: $328,7752018Assets 2020: $719,479Liabilities 2020: $203,433Net Assets 2020: $516,0462020Assets 2021: $729,481Liabilities 2021: $88,974Net Assets 2021: $640,5072021Assets 2022: $617,304Liabilities 2022: $89,319Net Assets 2022: $527,9852022Assets 2023: $552,820Liabilities 2023: $132,880Net Assets 2023: $419,9402023Assets 2024: $660,060Liabilities 2024: $175,530Net Assets 2024: $484,5302024Assets 2025: $768,797Liabilities 2025: $226,172Net Assets 2025: $542,6252025

Highlighted filing

2025

Assets$768,797
Liabilities$226,172
Net Assets$542,625

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2013: $324,8672013Revenue 2014: $413,953Expenses 2014: $402,234Net Income 2014: $11,7192014Revenue 2015: $497,839Expenses 2015: $469,329Net Income 2015: $28,5102015Revenue 2016: $576,545Expenses 2016: $568,035Net Income 2016: $8,5102016Revenue 2017: $578,344Expenses 2017: $567,109Net Income 2017: $11,2352017Revenue 2018: $991,397Expenses 2018: $829,788Net Income 2018: $161,6092018Revenue 2020: $1,092,340Expenses 2020: $980,262Net Income 2020: $112,0782020Revenue 2021: $1,133,275Expenses 2021: $1,008,814Net Income 2021: $124,4612021Revenue 2022: $1,024,760Expenses 2022: $1,137,282Net Income 2022: -$112,5222022Revenue 2023: $1,109,374Expenses 2023: $1,217,419Net Income 2023: -$108,0452023Revenue 2024: $1,382,284Expenses 2024: $1,317,694Net Income 2024: $64,5902024Revenue 2025: $1,773,652Expenses 2025: $1,715,557Net Income 2025: $58,0952025

Highlighted filing

2025

Revenue$1,773,652
Expenses$1,715,557
Net Income$58,095

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Aug 28, 2025
Return Version
2024v5.0
Gross Receipts
$1,773,652
Mission and Program Overview

Mission

A higher institution of learning offering various degree programs to prepare Christians to fulfill the Great Commision by training and equipping Christians to do the work of the ministry.

Veritas baptist college exists to equip men and women for dynamic christian service and leadership in bible-believing churches by providing higher education that emphasizes academic excellence, spiritual development, and preparation for ministry, both lay and professional.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$529,835$652,769▲ $122,934
Accounts Receivable$76,739$83,934▲ $7,195
Prepaid Expenses and Deferred Charges$38,107$24,300▼ $13,807
Land, Buildings, and Equipment, Net$15,379$7,794▼ $7,585
Total Assets$660,060$768,797▲ $108,737
Liabilities
Deferred Revenue$153,710$172,072▲ $18,362
Accounts Payable and Accrued Expenses$21,820$54,100▲ $32,280
Total Liabilities$175,530$226,172▲ $50,642
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$484,530$542,625▲ $58,095
Total Net Assets Fund Balance$484,530$542,625▲ $58,095
Total Liabilities and Net Assets / Fund Balance$660,060$768,797▲ $108,737

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,794$16,734$24,528
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Mike LesterPresidentFT$85,847$85,847
Sherry DavisCFOFT$67,112$67,112

Board Members and Trustees

NameTitle
Kurt SkellyChairman
Mike ReidVice Chairma
Andrew BunnellDirector
Brent ArmstrongDirector
Cathy DotsonDirector
Jamison CoppolaDirector
Kenny BaldwinDirector
Tim RabonDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$109,174
Program Service Revenue
$1,648,345
Investment Income
$15,482
Other Revenue
$651
All Other Contributions
$109,174
Change in Net Assets
$58,095

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,502,444
Revenue Not Reported on Financial Statements
$271,208
Other Revenue Adjustments
$271,208
Total Revenue per Audited Statements
$1,502,444
Total Revenue per Form 990
$1,773,652
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$987,114
Other Expenses$457,235
Grants and Similar Amounts Paid$271,208
Total Fundraising Expense$50,094
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$538,729$228,167-$766,896
Grants to Domestic Individuals$271,208--$271,208
Current Officers, Directors, Trustees, and Key Employees$107,451$45,508-$152,959
Travel-$111,624$5,876$117,500
Information Technology$95,580--$95,580
Payroll Taxes$43,411$18,386-$61,797
Advertising--$44,218$44,218
Other Expenses$36,068--$36,068
Fees for Services Accounting-$11,000-$11,000
Conferences and Meetings-$10,850-$10,850
Office Expenses-$9,810-$9,810
Insurance$7,811$1,953-$9,764
Occupancy$9,657--$9,657
Other Employee Benefits$3,837$1,625-$5,462
Depreciation Depletion-$5,242-$5,242
Fees for Services Legal-$130-$130
Total Functional Expenses$1,221,168$444,295$50,094$1,715,557

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,715,557
Expenses per Audited Statements$1,444,349
Total Expenses per Audited Statements$1,444,349
Expenses Not Reported on Financial Statements$271,208
Other Expense Adjustments$271,208
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The governing body reviews form 990 before it is filed.

Form 990, Page 6, Part VI, Line 12C

All staff are required to disclose to the college any transaction in which they are a related party.

Form 990, Page 6, Part VI, Line 15A

All compensation is budgeted, reviewed, and approved by the board of directors at the annual board meeting each year.

Form 990, Page 6, Part VI, Line 15B

All compensation is budgeted, reviewed, and approved by the board of directors at the annual board meeting each year.

Form 990, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Veritas Baptist College Inc
EIN
27-2918042
Address
208 WALNUT STREET SUITE 115, LAWRENCEBURG, IN 47025

Signing Officer

Name
Mike Lester
Title
President
Signed
2025-08-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Lester
Formed
2010
Legal Domicile
In
Voting Board Members
9
Independent Board Members
8
Employees
57
Volunteers
8

Preparer

Firm
David C Moja CPA
Address
PO BOX 531, REIDSVILLE, GA 30453
Preparer
Dave Moja
Phone
3212589907
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Veritas baptist college exists to equip men and women for dynamic christian service and leadership in bible-believing churches by providing higher education that emphasizes academic excellence, spiritual development, and preparation for ministry, both lay and professional.

Form 990, Page 2, Part III, Line 4A

Veritas baptist college exists to aid local churches in their task of equipping christians to fulfill the great commission. God has graciously gathered a dedicated and qualified faculty to equip believers to do the work of the ministry in order to build the body of christ. The goal is more than imparting academic knowledge; it is leading each student to spiritual maturity and christ-likeness. The college curriculum is organized to pursue this objective in a fourfold manner. 1.to train leaders and workers to serve in local churches and christian schools. 2.to train pastors and missionaries to plant and lead local churches. 3.to provide continuing education for pastors and church staff members who are serving in local churches. 4.to provide christians the opportunity for spiritual growth and spiritual enrichment. Since 1984, faculty and administration of veritas have developed personal mentoring relationships with their studentsfocusing on students unique personal and ministry needs. Vbc continues to accomplish its purpose with 334 graduates in 46 states, 2 us territories, and 15 foreign countries across 6 programs and 20 specializations. In the 2021-2022 school year, we had the privilege to help train 251 students. At veritas baptist college, we believe the cost of education shouldnt be a barrier to christs servants. We believe it should be affordable and flexible. To that end, we are committed to bringing trusted leaders directly to students. Stay home, serve locally, and connect globally with other like-minded believers pursuing their training. One bachelors graduate who has returned for an advanced degree stated, through veritas i have earned a degree, i have grown in the grace and knowledge of christ, i have gained friendships with people all across the world, and i have gained many valuable lessons that have shaped who i am today all while serving exactly where god has called me right here right now.

Form 990, Part XI, Line 9

Scholarships -271,208 scholarships 271,208

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

SCHOLARSHIPS 271,208

Schedule D, Page 4, Part XII, Line 4B

SCHOLARSHIPS 271,208

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IRS990/PrincipalOfficerNm0MIKE LESTER
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IRS990/PYSalariesCompEmpBnftPaidAmt0872856
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/OtherRevenuesNotIncludedAmt0271208
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SCHOLARSHIPS 271,208
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SCHOLARSHIPS 271,208
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalExpensesPerForm990Amt01715557
IRS990ScheduleD/TotalRevenuePerForm990Amt01773652
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IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE INSTITUTION ADMITS STUDENTS OF ANY RACE, COLOR, NATIONAL AND ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. IT DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL AND ETHNIC ORIGIN IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, AND ATHLETIC AND OTHER SCHOOL-ADMINISTERED PROGRAMS. THE POLICY IS PUBLICIZED IN THE ACADEMIC CATALOG AND ON THE WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE INSTITUTION RECEIVES GOVERNMENTAL GRANTS FOR THE PROGRAMS LISTED BELOW. PELL DIRECT LOAN
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0179
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VERITAS BAPTIST COLLEGE EXISTS TO EQUIP MEN AND WOMEN FOR DYNAMIC CHRISTIAN SERVICE AND LEADERSHIP IN BIBLE-BELIEVING CHURCHES BY PROVIDING HIGHER EDUCATION THAT EMPHASIZES ACADEMIC EXCELLENCE, SPIRITUAL DEVELOPMENT, AND PREPARATION FOR MINISTRY, BOTH LAY AND PROFESSIONAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VERITAS BAPTIST COLLEGE EXISTS TO AID LOCAL CHURCHES IN THEIR TASK OF EQUIPPING CHRISTIANS TO FULFILL THE GREAT COMMISSION. GOD HAS GRACIOUSLY GATHERED A DEDICATED AND QUALIFIED FACULTY TO EQUIP BELIEVERS TO DO THE WORK OF THE MINISTRY IN ORDER TO BUILD THE BODY OF CHRIST. THE GOAL IS MORE THAN IMPARTING ACADEMIC KNOWLEDGE; IT IS LEADING EACH STUDENT TO SPIRITUAL MATURITY AND CHRIST-LIKENESS. THE COLLEGE CURRICULUM IS ORGANIZED TO PURSUE THIS OBJECTIVE IN A FOURFOLD MANNER. 1.TO TRAIN LEADERS AND WORKERS TO SERVE IN LOCAL CHURCHES AND CHRISTIAN SCHOOLS. 2.TO TRAIN PASTORS AND MISSIONARIES TO PLANT AND LEAD LOCAL CHURCHES. 3.TO PROVIDE CONTINUING EDUCATION FOR PASTORS AND CHURCH STAFF MEMBERS WHO ARE SERVING IN LOCAL CHURCHES. 4.TO PROVIDE CHRISTIANS THE OPPORTUNITY FOR SPIRITUAL GROWTH AND SPIRITUAL ENRICHMENT. SINCE 1984, FACULTY AND ADMINISTRATION OF VERITAS HAVE DEVELOPED PERSONAL MENTORING RELATIONSHIPS WITH THEIR STUDENTSFOCUSING ON STUDENTS UNIQUE PERSONAL AND MINISTRY NEEDS. VBC CONTINUES TO ACCOMPLISH ITS PURPOSE WITH 334 GRADUATES IN 46 STATES, 2 US TERRITORIES, AND 15 FOREIGN COUNTRIES ACROSS 6 PROGRAMS AND 20 SPECIALIZATIONS. IN THE 2021-2022 SCHOOL YEAR, WE HAD THE PRIVILEGE TO HELP TRAIN 251 STUDENTS. AT VERITAS BAPTIST COLLEGE, WE BELIEVE THE COST OF EDUCATION SHOULDNT BE A BARRIER TO CHRISTS SERVANTS. WE BELIEVE IT SHOULD BE AFFORDABLE AND FLEXIBLE. TO THAT END, WE ARE COMMITTED TO BRINGING TRUSTED LEADERS DIRECTLY TO STUDENTS. STAY HOME, SERVE LOCALLY, AND CONNECT GLOBALLY WITH OTHER LIKE-MINDED BELIEVERS PURSUING THEIR TRAINING. ONE BACHELORS GRADUATE WHO HAS RETURNED FOR AN ADVANCED DEGREE STATED, THROUGH VERITAS I HAVE EARNED A DEGREE, I HAVE GROWN IN THE GRACE AND KNOWLEDGE OF CHRIST, I HAVE GAINED FRIENDSHIPS WITH PEOPLE ALL ACROSS THE WORLD, AND I HAVE GAINED MANY VALUABLE LESSONS THAT HAVE SHAPED WHO I AM TODAY ALL WHILE SERVING EXACTLY WHERE GOD HAS CALLED ME RIGHT HERE RIGHT NOW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING BODY REVIEWS FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL STAFF ARE REQUIRED TO DISCLOSE TO THE COLLEGE ANY TRANSACTION IN WHICH THEY ARE A RELATED PARTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL COMPENSATION IS BUDGETED, REVIEWED, AND APPROVED BY THE BOARD OF DIRECTORS AT THE ANNUAL BOARD MEETING EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL COMPENSATION IS BUDGETED, REVIEWED, AND APPROVED BY THE BOARD OF DIRECTORS AT THE ANNUAL BOARD MEETING EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7SCHOLARSHIPS -271,208 SCHOLARSHIPS 271,208
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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IRS990/USAddress/AddressLine1Txt0208 WALNUT STREET
IRS990/USAddress/AddressLine2Txt0SUITE 115
IRS990/USAddress/CityNm0LAWRENCEBURG
IRS990/USAddress/StateAbbreviationCd0IN
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE LESTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT

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